Minister for Commerce Engineer Khurram Dastgir Khan has urged his Indonesian counterpart to reconsider the import quota policy for Pakistan for items included in the Preferential Trade Agreement (PTA).
Talking to Indonesian Minister for Trade Enggartiasto Lukitaon on the sidelines of meetings of the 12th World Islamic Economic Forum held in Jakarta, he expressed hope that a quota-free market access will help Pakistani exports to grow.
He said that barriers to trade which hinder the free flow of products are being phased out in the modern trading system.
The minister appreciated the fact that the PTA between the two countries has helped the bilateral trade to grow.
Import of Palm Oil from Indonesia has exponentially increased the volume of imports from Indonesia and in future Pakistan might start importing coal from Indonesia in large quantities for electricity generation, he added.
He urged the Indonesian minister for trade to ensure implementation of the memorandum of understanding signed between the two countries for purchase of rice from Pakistan.
The first review meeting of the PTA is scheduled to be held on August 15-16 in Jakarta, where both sides would share their evaluation of the performance of PTA since its inception.
The review meeting will also propose the future course of action to further strengthen trade ties and enhance bilateral trade.
The Indonesian minister expressed the desire to find possibilities of converting this Preferential Trade Agreement into a Free Trade Agreement.
He asserted that signing of a full scale trade agreement between the two countries would open new avenue for trade in goods and might lead to a point where the two countries agree to expanding bilateral preferential treatment to services as well.
